i'm in the 9th grade, and i have a law class to take as an elective. and i don't understand this question/scenario. here it goes.....
Sam Smith runs a stop sign and hits Jack Foster's motorcycle. The fair market value of the motorcycle was $5000 before the accident; it is $1,500 after. Foster sues Smith.
how much money may Foster recover as damages?
(no rude answers please)
2006-09-16 02:57:58 · 10 answers · asked by ♥Brittany♥ 6 in Education & Reference ➔ Homework Help
About $7000. I'm saying 7K because it even includes the maintanence charges( added to the $5000 cost). Hope this helps!
2006-09-16 03:12:35 · answer #1 · answered by labyrinth 3 · 0⤊ 0⤋
Actually Mr. Smith can receive the full $5,000 because it is called the replacement value amount. Now Mr. Foster's insurance company will probably only pay $3,500 thus Mr. Foster would have to sue for the market price...
...Since Mr. Smith broke the law, if Mr. Foster suffered any medical injuries, Mr. Smith would be liable for payment of any pain and suffering and any future pain and suffering or medical cost.
...Mr. Foster may also allege "punitive damages" meaning that if Mr. Smith's running the sign is found to be a deliberate thing, (say he was racing his friend) then a jury can award whatever they want
...There is no cap on punitive damages..
2006-09-16 03:08:26 · answer #2 · answered by Rada S 5 · 0⤊ 0⤋
I think he can recover the difference 5000-1500=$3500 That's the financial amount that Foster lost.
2006-09-16 03:00:33 · answer #3 · answered by MzLady99 3 · 1⤊ 0⤋
well the motorcycle value of (5000-1500=3500) and medical fees(if any) .
2006-09-16 03:20:02 · answer #4 · answered by Anonymous · 0⤊ 0⤋
$3500.00 Value of bike before the accident minus the current value.
2006-09-16 03:01:45 · answer #5 · answered by baileymattsmom 2 · 0⤊ 0⤋
the value of the motorcycle, plus medical expenses and if he wins his case, court costs and attorney fees.
2006-09-16 03:05:59 · answer #6 · answered by tampico 6 · 0⤊ 0⤋
$3,500 for the bike and $10 million for pain, suffering and also for being a dumbass and running the stop sign.
2006-09-16 03:08:34 · answer #7 · answered by young108west 5 · 0⤊ 0⤋
i would think it would be $3,500.00 5000-1500=
2006-09-16 03:01:43 · answer #8 · answered by Anonymous · 0⤊ 0⤋
he may recover $3500
2006-09-16 03:06:07 · answer #9 · answered by raj 7 · 0⤊ 0⤋
3500
2006-09-16 03:04:43 · answer #10 · answered by Amber D 3 · 0⤊ 0⤋